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made shall be added to the principal sum owing on the above
<br />note, shalt be secured hereby, and shall bear interest at the rate sit
<br />forth- in the said note, until paid.
<br />7. That the Borrower hereby assigns, tcaasfcrs and s, -"i over to
<br />the Lender, to be applied toward the pa;mvcrit & tht: note: and all
<br />sums secured hereby in case of a default in the performance of
<br />any of the terms and conditions of this instrument er tae said
<br />note, all the rents, revenuer and income tc' be d-aived from the .
<br />said premises during such time as the indebtedness shall remain
<br />unpaid, and the Lender shall have power to apFoirt any alert cr
<br />ag mts it may desire for the purpose of repairing said premiss and
<br />of renting the same and collecting the rents, revenues and income.
<br />and it may pay- out of said incomes all exTcrises of mpaihtig said
<br />premises and necessary commissions and expenses incurred in ran:-
<br />kz# and run3ging thr same,pid.of collecting rerrals t9erefrcnt:
<br />89-104313
<br />12. The Borrower further agrees that should this instrument and
<br />the nitiia.st+.-ured hereby not be eligible for insurance under the Na.-
<br />tignll11•?dturang �Act within eight months from the date hereof
<br />(written: STptr mtmt of any offi:er of L the Departatem of'l•iomAng
<br />and Urban L'ivt1bpment or authorized agent of the Secretary of
<br />F14Ws:ng and Virtan Development dated subsequent to Use eight
<br />tron(Its Vow ."m the date of this insttuttsent, declining to insure
<br />said note ea4 1411, mortgage, being deemed conclusive proof of
<br />such ine5$ihll0u). the Lender or holder of the note may. M its op-
<br />r,on, dlmrlare in sums secured hereby immediately due and pa)able.
<br />Notwitlti andinS the foregoing, this option may not be exercised
<br />bs,ihe Uider or the holder of the note when the ineligibility for
<br />insur3voz under the National Housing Act is due to the Lender's
<br />failur. to iuenit the mortgage insurance premium to the Depart-
<br />ment of Housing and UtbRn Deveopmtnt.
<br />ftt: ).rata c mut:i;.rtitt .:f °ii;. a}, +. be a;,p!v-td ink, and the dts;harje 13. That if the Borrower fails to make any pay -mints of money
<br />as brr the same become due. or fails to conform to acid comply
<br />w h. iw,i of rhe.conditions or agreements conmined L this insttu-
<br />'rhat the Boriouer dill 3dd'ep ti a im, ru�crttette; now cxi5r:ng raXt r• i r t` itnte which it secures, then the entire. principal sum
<br />cr, hgo after trected on the propert,, insured as rna: be r,.-quircd and accTfic1 ii!rerest shall at once become due and.ptigable. at the
<br />fuint'iitnetc: c iizisy the Lender against loss by fir;; and + :ti*_er election of t1te.Lender.
<br />hazards. ca,4zrjt &.� and contingencics in such amount•+ aadf for such
<br />periods as t t:. s:� required by the Lender and mill pm.'. pr:mptly,
<br />WN.m due. an} premiums en -such insurance prov,sien '.:r :ravment
<br />of which has not b"m ma4k h are mi^vforc All in+uri;t_e shall be
<br />carried to companies appro:rri by the leraet and the policies and .
<br />remmals thereof ;hall be held by the tender and have atta.hed
<br />thereto loss parable James in favcr of and in `.,rri acceptahle as'
<br />the I ender. to event of loss Scrr:sw/ :r w,dl goer immediate norace
<br />1*4, --rnwl to the Lender. whnmLi make I!r:af of Idlt.s it' net made
<br />t ;r,rn;tty by 13orrouet. andta-A ntsariacc vcmpaa,< cendreriOut 1.
<br />t;ry�tf d author!:_ di arid directed r,: nraN•: pa:micta for sliclt.lim-.
<br />to Oi "..ent}cr in;tcad of rd the Iler:•,'sti z' and the Lender
<br />;<y. itiy, an! the insurance rroceed >. or an!i ltttn thereof, may tic
<br />ayirs;ed tsv tt•e fiend ^_r at ir%ertlot: a!ther T4 the reduction of the
<br />( i';zrtednesti hereby se�ura4+tr .tr, the res'orasron or repair of the
<br />Prop-.11) damaged. In eseni,uf fcre_irt:,u: of thus instrument or
<br />other transfer of title to the std. *rtgageJ pr,_rxrt. in extm m
<br />gunhcnt
<br />of the indebtedness scouted her ry.. all.r:£jhL tale and interest of
<br />the Wirower in and to any iry -it rrtcc pi!ilov, there to force shall
<br />pass to the purchawr cr gra;trrc
<br />'+. That as additional and. +.!3'.ateral. +e: urns to: rttc payment_ (+f
<br />C.. Sole des!: t0)wd, and ah iarss* to) hecornc ,tic under this itn•,tnr-
<br />m.,mt,, thr,B,;rf-qvt -:7r hereby assigns to the Lcnilwr all prof its•
<br />rt.enues. toyWrlit -t, rights s:d ". f.vnetits ac,:rl :;!r „; to the Ifnrro ser
<br />.i>a& -r any aiv.1 ait oil and y;ia !,rases on oa' r!etn,sv, , wt5.h the
<br />erg(ij. to receive and rcimpi' A:'A` ,.ne -.,Arne ::,e;l a;.t•;. ts„ Y!'i r o sad
<br />irdyebtedness as well before ifs after default -n Oac candatons of
<br />this instrument. and the Lender may deiraW, !,:e far and rcl.ascr
<br />ant such pw4ments when due and l�ayaht %. Mo shell tiny he te.
<br />quired so to do. This assi$jiment is to termnau and become null
<br />ra.*t said upon release of Atss::astrurncnt.
<br />10. That the Borrower wC l'etp the buildings upon said premises
<br />in good repair, and neither commit nor permit waste upon said
<br />landJ, nor suffer the said premises to be used for any unlawful
<br />.'I. That if the premises, err• any put thereof. be con&n,7md
<br />under she power of eminent � domain, or acquired for a psi: isic use_
<br />the damages awarded, the proceeds for the taking of. or the con -
<br />siidawsort for such acquisition. to the extent of the full amount of
<br />;rrdebtedMs upon this instruatet+t and the note which it is, given to
<br />wwc remaining unpaW. are` hereby assigned by the 1LxTrmer to
<br />tfW ! *infer. std sMI be IMW f,,wthwith to said Leader v ai * ap•
<br />OWd by the latw cis ac;mvit of the next matunnj ift u6itients of
<br />'wt;h indeetrt�deetiit:
<br />Lender shall give notice: to Borrower prior to accetation
<br />following S�emwer's breach of any cpnmitt or agreement in this
<br />4gsrrumertt !'�n;�. cot prior to a celcrvion. tinder paragraph 12
<br />unless apgl�;zxbi : Iaw prov,-.,'.ts mherwiye3s The notice shall specify:
<br />ttii the dc:a tiL! .;b) the zmimt required to cure the default; (c) a
<br />iL7tt ; nctivw ; 0an 34 d alit, f .7in the date the notice is given to
<br />&,s ;;k : l?f 4-hi ch the det`diuIt must lase owed; acid (d) that failure
<br />to pure z4,e, *Xkult on or before the dada edfied in the notice
<br />may result in acceleration of the sums %,,'red by this instrument
<br />s:,i.salr of the Property. The notice stay w;•ther infirm Borrower
<br />rj {'t:lte right to reinstate after acceleration and the t *s r. to bring a
<br />t70:,rt action to assen the nor. - existence of a defat4 'or- any other
<br />defense of Bottower to acceleration and sale. If the.' cult is not
<br />cured on ar Were the date specified in the notice. Lender at its
<br />option may. r•ap,_use immediate payment in full of all sums secured
<br />by this insert rent without further demand and may invoke the
<br />power of sale and any other remedies permitted by .icab!e law:.
<br />Lender shall be entitkal all expenses pursuing
<br />the remedies provided in +bits paragraphs 1,3, including, but not
<br />limited to, reasonable attorneys' fees any i czsts of title evidence.
<br />If the power of sale is invoked. Tnistee shall recut a notice of
<br />default in each county in which any part of the Prwy is located
<br />and shall mail copies of such notice in the manner ps+r.;eribed by
<br />appld:ahfe law to Borrower and to the other persons prescribed by
<br />applicable law. After the time required by applicable law:, Trust -m
<br />shall give public notice of sale to the persons and in the manner
<br />prescribed by applicable law. Trustee, without demand on Bor-
<br />rower, shall sell the Property at public auction to the hiahhest bid-
<br />der at the trine and plaice and under the terms designated in the
<br />notice of tale in one or mare parcels and in any order Trustee
<br />determines. Trustee may postpone sale of all or any parcel of the
<br />Property by public announcement at the time and place of any
<br />prniously scheduled sale. Lender or its doaignee may purchase the
<br />Property at any sale.
<br />Upon rempt of pytttent of the print fens Trustee shall deliser
<br />. ao the ptmfmarler Trustee's deed con4eytr4 the Property. The
<br />r&tab in the Trustee's deed shall be prima facie esitlence of tht
<br />axt;th of the statemenrs matle therein. Trustee shall apply the prc-
<br />*eft of the sale in the ,CM. ming order: (a) to all expenses of *hta
<br />sale. includutg„'bug not littf:ted to. Trtavm's fees as permitted h�'
<br />applicable [Asir amd reasonable sttottitI ,' fees; (b) to all sums
<br />tieeured by f1in 5eewity Ingruntetu;; iiittd' tin) any excess to the per -
<br />um or perio n legally eatu*d to it'
<br />1 � 1.•,1�1� Irll• 1 1��� 1!I IIII..OI.���I���PI• -
<br />Papa 3 of 5 "LXMl4WT
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